The latest statistics on identity theft and credit card fraud are alarming, with 284,000 reported cases of identity theft and 111,000 cases of credit card fraud in just the second quarter of 2024.

Identity theft can be a stressful and overwhelming experience but taking action quickly can help protect your credit and limit the damage. Here are steps you should take immediately if you believe your identity has been compromised.

Contact Your Bank and Credit Card Issuers Notify your financial institutions about the theft. They can freeze or close compromised accounts and issue new cards. Monitor your bank and credit card statements closely for any unauthorized charges.

Place a Credit Freeze or a Fraud Alert on Your Credit Reports Contact one of the three major credit bureaus (Equifax, Experian, or TransUnion) and request a credit freeze or fraud alert. This makes it harder for identity thieves to open accounts in your name, as businesses must take extra steps to verify your identity.

Review Your Credit Reports Request and review your credit reports from all three bureaus at www.annualcreditreport.com. Look for unfamiliar accounts or transactions. If you find anything suspicious, report it right away.

File a Report with the FTC Go to www.IdentityTheft.gov to report the theft to the Federal Trade Commission (FTC). The FTC will help you create a recovery plan and give you an official identity theft report, which can be used to clear fraudulent accounts or transactions.

File a Police Report Take a copy of the FTC Identity Theft report to your local police department. Filing a police report can help substantiate your case when working with creditors and financial institutions to resolve disputes.

Identity theft is a serious issue, but with the right steps, you can minimize its impact and protect your financial future. If you’ve been affected and need help disputing accounts in your name or need help repairing your credit, I’m here to guide you through the process and ensure your credit health is restored.  Call us at 1-800-822-7120 today.